Last week of the year

Happy Friday Red Rock Agents,

Here we are near the last week of the year, thank goodness. With high hopes for the next year being better for the country. We can thank our lucky stars we’re considered essential workers, as so many were not. It’s been good for REALTORS, but for so many it has been misery. May we have a much better year for all of us in 2021.

Only a few items I want to go over with all of you so let’s begin. I’m not sure when it became a common practice to send copies of earnest money checks out with the Earnest Money Receipt form. I have great concern over this practice and feel like the time to stop is now. I feel strongly about this due to the ability of thieves gaining access to our client’s bank accounts through the routing and account numbers on the checks. We could be held responsible if any account gets hacked. So, here’s the deal please don’t send a copy of any earnest money checks to anyone. No where in the contract does it state that a copy of EM checks needs to be sent to anyone, including title. Now title may request it and we could deliver a copy to them and it can be sent over when the copy has all the routing and account numbers obliterated. If you absolutely must send it, please make sure that all numbers for the account have been removed. If we stop sending and requesting them, I believe it will slow or stop all together. Please explain to an agent that feels strongly about having a copy that it’s not a rule and they will have to take our word that it’s been collected. If they become upset, ask them to talk to their broker and if the broker feels strongly about it have them call me. I feel this practice makes sense, after all we have our clients sign a wire fraud disclosure, this is no different. I believe by working together we can change this poor practice throughout the board.

I have always felt that we (REALTORS) are our best Police for the rules. If you find another agent behaving badly it’s up to us to take the necessary means to correct them. Now that may be as easy as a call to another broker or if need be take it to the division. If we don’t work to improve our conduct, then we can expect no change in behavior. I understand that it is a rare event that things happen that’s against the rules, but we can improve it. I know that this seems like a bit of a rant but it’s important for everyone to understand.

Please have a great weekend and be safe out there,